SAIHEAT announces receipt of notification from Nasdaq

SINGAPORE, Oct. 11, 2024 (GLOBE NEWSWIRE) — SAIHEAT Limited (f/k/a SAI.TECH Global Corporation) (“SAIHEAT” or the “Company”) (NASDAQ: SAIH, SAITW), announces that it has received notice in writing (the “Notice Letter”) on October 2, 2024, from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”). The Notification Letter advised that for the past 30 consecutive trades, the minimum closing bid price per share for the Company’s common shares was below the US$1.00 per share requirement for continued listing under Listing Rule 5550( a)(2) from Nasdaq.

Nasdaq’s notice letter has no current effect on the listing or trading of the Company’s securities on Nasdaq.

Pursuant to Nasdaq Listing Rules 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until March 31, 2025, to regain compliance with the Nasdaq Listing Rules. Nasdaq. If at any time during this compliance period, the closing bid price of the Company’s Class A Common Stock is $1.00 per share or higher for a minimum of ten consecutive business days, Nasdaq will provide the Company with confirmation by written compliance and the matter will be closed.

If the Company does not regain compliance by March 31, 2025, it may be eligible for an additional period of 180 calendar days to regain compliance.

The Company intends to actively monitor the offering price of its shares and will evaluate available options to regain compliance with continued listing requirements.

About SAIHEAT

SAIHEAT Limited is a Nasdaq-listed company (SAIH) based in Singapore. SAIHEAT develops technologies for the Advanced Computing Center Ecosystem (ACCE), a state-of-the-art computing center with high-performance servers, advanced liquid cooling and systems to capture and recycle computing heat. Our innovations aim to reduce the carbon footprint of Bitcoin mining and AI operations.

Formerly known as SAI.TECH Global Corporation, SAIHEAT became a publicly traded company on the Nasdaq Stock Market (NASDAQ) through a merger with TradeUP Global Corporation in May 2022. For more information about SAIHEAT, visit https://www.saiheat. with

Safe Harbor Declaration

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “goals”, “optimistic “, “confident that”, “continue to”, “anticipate”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be considered forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding SAIHEAT and the Company’s operations, financial performance and condition that are based on current expectations, beliefs and assumptions that are subject to change at any time. SAIHEAT cautions that such statements, by their nature, involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, such as government and stock exchange regulations, competition, political, economic and social conditions throughout the world, including those discussed in SAIHEAT’s Form 20-F under the headings “Risk Factors,” “Results of Operations” and “Business Overview” and other reports filed from time to time with the Securities and Exchange Commission. All forward-looking statements apply only as of the date they are made and SAIHEAT specifically disclaims any obligation to maintain or update forward-looking information, whether of the nature contained in this release or otherwise, in the future.

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